Spotify grew its user base to 124 million paid subscribers
It also revealed total revenue for 2019 was €6.764 billion -- a 29% increase from the year prior -- with a $186 million net loss overall.
Spotify's average revenue per user was down 5% y/y to €4.65 euro . However that's only a small drop from the €4.67 per premium user the service averaged at the end of September. The company said a "significant portion of this [y/y] decline was driven by the extension of the free trial period across our entire product suite in the quarter."
Operating expenses totaled €551 million in Q4, up 80% y/y, which the company said was "largely driven by higher than expected social charges resulting from an increase in our share price.
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